HB 205

  • Delaware House Bill
  • 151st General Assembly (2021-2022)
  • Introduced in House Jun 14, 2022
  • Passed House May 17, 2022
  • Passed Senate Jun 21, 2022
  • Governor

An Act To Amend Titles 19 And 29 Of The Delaware Code Relating To Establishment And Management Of The Expanding Access For Retirement And Necessary Saving Program.

Abstract

This Act establishes the Delaware Expanding Access for Retirement and Necessary Saving (“EARNS”) program to serve as a vehicle through which eligible employees may, on a voluntary basis, provide for additional retirement security through a State-facilitated retirement savings program in a convenient, cost effective, and portable manner. The EARNS program will be designed to serve small businesses who are unable to offer retirement plans to employees due to the cost and administrative burden. Because there are documented wealth gaps in Delaware, disproportionately impacting women and people of color, a state-facilitated savings plan aims to alleviate barriers small employers face in offering options, close the wealth gap among low to modest wage earners and keep Delaware competitive with neighboring states by attracting talented workers to Delaware. A state-sponsored savings plan, funded by employees, facilitated by employers, and overseen by the State, will offer one solution to the quickly emerging crises stemming from generations of workers without adequate savings. The Act creates the Delaware EARNS Program Board to oversee initial design and implementation of the program. The board will be disbanded no later than December 31, 2025, at which point all duties and functions of the board will be transferred to and assumed by the Plans Management Board. The effective date of the Act is contingent upon an appropriation by the General Assembly necessary to implement the Program. This Act also makes technical changes to the existing law to make it conform to the standards of the Legislative Drafting Manual.

Bill Sponsors (44)

Stephanie T. Bolden

     
Primary

Votes


Jun 21, 2022

May 17, 2022

Actions


Jun 21, 2022

Senate

Passed By Senate. Votes: 20 YES 1 NOT VOTING

Jun 16, 2022

Senate

Reported Out of Committee (Finance) in Senate with 2 Favorable, 2 On Its Merits

  • Committee-Passage
  • Committee-Passage-Favorable
Finance

Jun 14, 2022

Senate

Reported Out of Committee (Labor) in Senate with 1 Favorable, 4 On Its Merits

  • Committee-Passage
  • Committee-Passage-Favorable
Labor

Senate

Assigned to Finance Committee in Senate

  • Introduction
  • Referral-Committee
Finance

May 17, 2022

House

Amendment HA 2 to HB 205 - Stricken in House

House

Amendment HA 1 to HB 205 - Stricken in House

House

Amendment HA 3 to HB 205 - Passed In House by Voice Vote

House

Passed By House. Votes: 35 YES 5 NO 1 ABSENT

Senate

Assigned to Labor Committee in Senate

  • Introduction
  • Referral-Committee
Labor

Mar 22, 2022

House

Amendment HA 3 to HB 205 - Introduced and Placed With Bill

Mar 17, 2022

House

Reported Out of Committee (Appropriations) in House with 1 Favorable, 4 On Its Merits

  • Committee-Passage
  • Committee-Passage-Favorable
Appropriations

Jun 21, 2021

House

Amendment HA 2 to HB 205 - Introduced and Placed With Bill

Jun 11, 2021

House

Amendment HA 1 to HB 205 - Introduced and Placed With Bill

Jun 10, 2021

House

Assigned to Appropriations Committee in House

  • Introduction
  • Referral-Committee
Appropriations

Jun 09, 2021

House

Reported Out of Committee (Labor) in House with 8 Favorable, 1 On Its Merits

  • Committee-Passage
  • Committee-Passage-Favorable
Labor

May 20, 2021

House

Introduced and Assigned to Labor Committee in House

  • Introduction
  • Referral-Committee
Labor

Bill Text

Bill Text Versions Format
Bill Text PDF HTML
HA 3 to HB 205 HTML PDF

Related Documents

Document Format
Fiscal Note PDF

Sources

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